Danske Bank CEO Resigns

CBJ — Danske Bank chief executive Thomas Borgen has quit following an investigation into payments totalling $302 billion through its Estonian branch.

Danske Bank commissioned the probe last year after reports of dirty money flowing through its Baltic subsidiary, including from family members of Russian President Vladimir Putin.

Regulators and the financial community will scrutinize the Danske Bank report, which follows calls by Brussels for a new European Union watchdog to crack down on financial crime following a series of major money-laundering scandals.